China’s largest grain trader, China National Cereals, Oil and Foodstuffs Corp, is in talks with Singapore-listed Noble Group about forming a joint venture in sugar, soyabeans and wheat that would propel the Chinese group further towards the forefront of global agribusiness, write Jeremy Grantand Lucy Hornby.
The talks, focused largely on Noble’s businesses in South America, come just a week after Cofco bought a 51 per cent stake in Dutch agricultural trading house Nidera for almost $1.3bn.
The deals suggest that the Chinese group is seeking to get closer to the source of grains and other soft commodities to satisfy long-term growth in demand from the Chinese population.
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